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Real Estate Briefing 20.Dec 2010

Posted on 20 December 2010 by Laxman |  Email |Print

From Emirates247.com: Direct investment into commercial real estate in Europe, Middle East and Asia (EMEA) is likely to reach €100 billion ($132bn; Dh 484.44bn) in 2010, according to new research from Jones Lang LaSalle. This figure represents an increase of over 40 per cent on volumes recorded for the full year 2009.
Investment activity in the first three quarters of 2010 was already substantially ahead of last year’s levels and a strong fourth quarter is expected, JLL said on Sunday……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Europe-re.com: Jones Lang LaSalle has published its Q4 2010 EMEA Occupier Conditions report, which reveals that occupiers remain cautious, pursuing only very select growth opportunities and essentially placing a focus on rationalization, consolidation or upgrading their existing estates.
Vincent Lottefier, CEO EMEA Corporate Solutions at Jones Lang LaSalle, said: “As development pipelines begin to run dry, it is the supply dynamic that has led to stabilization and in some cases, increases in prime rents……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Europe-re.com: For the first time since 2007 there has been capital growth in continental European non-listed real estate funds of 0.7% resulting in a total return of 1.4%, according to the latest INREV Quarterly Index results for the sector. Capital growth was negative in INREV’s Annual Index in 2008 and 2009 as well as the first two quarters of 2010.
In local currencies, the overall Index returned 1.7% in the third quarter of 2010. This compares to a quarterly performance of 1.8% for quarter two and 2.4% for quarter one……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Citywire.co.uk: Has Brits’ enthusiasm for a place in the sun been reignited? Linton Chiswick questions whether there are really bargains to be had in places like France, Spain and the US.
Putting aside regional variation, UK property prices appear to be on the slide as the year draws to an end……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Themovechannel.com: Despite a very small resurgence over the past year, the property sector remains widely unloved by investors and is the worst performing sector over three years.
Yet Mike Slade, veteran property investor and chief executive of Helical Bar, has said that it is time for investors to ‘buy like hell’ given the current valuations and yields available from commercial property……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Thenational.ae: Middle East investors helped to spark a 40 per cent increase in commercial property transactions in the past year in Europe, Middle East and Africa (EMEA), says a Jones Lang LaSalle report.
Total investment across EMEA is likely to reach €100 billion (Dh484.43bn) this year, led by surges in activity in Germany and the Nordic countries, according to an analysis released yesterday by the property consultant……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From AFP: Dubai malls will have too many shops for rent and too few tourist shoppers by 2013, a report said on Sunday. “Dubai shopping mall space is set to increase by approximately 30 percent between 2010 and 2013,” global real estate consultants Colliers International said in a report.
The market will see an oversupply of over one million square metres (10.8 million square feet) of gross leasable area in 2013, it said……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Gulf-times.com: Qatar’s successful bid to host the World Cup in 2022 is set to have a significant impact on the country’s real estate sector in the long-term, according to a local expert, who claimed that the next 12 years will see considerable growth in the market due to increased media attention, business and infrastructure development and population growth.
Associate director of real estate advisers DTZ, Mark Proudley, said: “Qatar’s 2022 bid win was nothing short of a historic for Qatar and indeed the wider region - as the second largest sporting event in the world, it is bound to have a major impression on Qatar over a much longer term both before and after the event.”………………………………………Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Theasset.com: Urdang, the real estate investment manager and part of BNY Mellon Asset Management, sees the Asia- Pacific region leading the global recovery for real estate investment trusts (REITs) on the back of the rapid growth of the economies in China, Hong Kong and Singapore.
Strong-performing REITs are expected to benefit investors though a combination of appreciation and dividends, according to a recent paper that is part of BNY Mellon Asset Management’s global outlook for 2011……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Thehindu.com: The real estate industry is facing the twin challenges of rising cost of construction materials and a shortage of labour, which is being increasingly felt with the city expanding.
Work on almost 50 per cent of the upcoming residential projects in and around Chennai have either been temporarily suspended or progressing at a slow pace due to the increase in the price of construction materials and labour shortage, says P.Manishankar, president, Federation of Tamil Nadu Flat and Housing Promoters Association……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Indiatimes.com: Global property consultant Jones Lang LaSalle on Sunday cautioned that housing prices in Delhi-NCR and Mumbai have reached the peak level of 2008 and any further rise in the rates will adversely affect the demand. It said the prices in the rest of the country may firm up by about 10-15% next year to touch the 2008 level.
“In Delhi and Mumbai, housing prices had fallen by about 25-30% after global meltdown in 2008. The prices have again shot up and reached their peak level this year,” JLL India Chairman Anuj Puri said……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Asiaone.com: Beijing has again told local authorities to step up efforts to curb excessive land price increases that have contributed to higher housing prices. The Ministry of Land and Resource has told local governments to “pay a close attention to real estate market movements and to firmly implement regulatory and control measures” as a way to cool down heated bidding for land.
Despite property tightening measures, developers have shown a renewed thirst for land in recent weeks and have thrown a huge amount of cash in state land auctions, pushing land prices to all-time new highs in Shanghai, Guangzhou, Wuhan and Wenzhou……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Xinhua: China’s land regulators urged local land authorities late Sunday to take concrete measures against excessive growth in the country’s land prices in some Chinese cities and crack down on illegal behavior, such as land hoarding, to ensure the implementation of the government’s cooling measures on the property market.
The Ministry of Land and Resources(MOLAR) said in a statement on its web site that the recently seen high prices in land sales in some Chinese cities had raised social concerns, which local land authorities should pay considerable attention to, and take actions to curb the rapid growth in land prices……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Taipeitimes.com: Recent hikes in assessed land values in the Greater Taipei area may not discourage real-estate speculation because the significant gap between government-assessed values and market prices still makes the property market a lucrative investment, experts said.
Earlier this month, Taipei City and Taipei County, which account for half of the nation’s housing transactions, raised their assessed land value by 15.33 percent and 12.08 percent, respectively, marking the biggest increases in almost two decades……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Philstar.com: The condos in the Fort are serving a different class of buyers compared to the condos being built in Ortigas or in the periphery in Makati or Taft Avenue. They serve different purposes with different demand and pricing dynamics.
The property professional also thinks our banking system is still a lot more conservative than the American financial system so that property financing here is pretty much down to earth……………………………………….Full Article: Source

Posted on 20 December 2010 by Laxman |  Email |Print

From Businessinsider.com: Theory has it that Canadian banks are in far better shape than their US counterparts. If so, it’s primarily because the Canadian Central Bank (Bank of Canada) has assumed nearly all the default risk on Canada’s massive property bubble.
Is that supposed to make everyone stand up and salute the Loonie? One key point that has recently come into the spotlight is Canadian citizens are not in better shape than their US counterparts. All those going “rah rah” over the Loonie, might be advised to consider some of the following articles……………………………………….Full Article: Source

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